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Other data: 1. 2. 3. 4. 5. Prepaid insurance is a 1-year policy starting May 1, 2022. A count of supplies shows $800 of unused supplies on May 31. Annual depreciation is $3,708 on the buildings and $1,560 on equipment. The note payable interest rate is 6%. (The note was taken out on May 1 and will be repaid along with interest in 1 year.) Two-thirds of the unearned rent revenue has been earned. Salaries and wages of $800 are unpaid and unrecorded at May 31.

Other data: 1. 2. 3. 4. 5. Prepaid insurance is a 1-year policy starting May 1, 2022. A count of supplies shows $800 of unused supplies on May 31. Annual depreciation is $3,708 on the buildings and $1,560 on equipment. The note payable interest rate is 6%. (The note was taken out on May 1 and will be repaid along with interest in 1 year.) Two-thirds of the unearned rent revenue has been earned. Salaries and wages of $800 are unpaid and unrecorded at May 31.

Quickbooks Online Accounting
Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
Publisher:Owen
Chapter4: Operating Activities: Sales And Cash Receipts
Section: Chapter Questions
Problem 2.4C
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Oriole's Hotel opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows.
In addition to those accounts listed on the trial balance, the chart of accounts for Oriole's Hotel also contains the following accounts and account numbers: No. 142 Accumulated Depreciation-Buildings, No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense. Other data: (a) 2. 1. 3. 4. 5. 6. 1. Prepaid insurance is a 1-year policy starting May 1, 2022. A count of supplies shows $800 of unused supplies on May 31. Annual depreciation is $3,708 on the buildings and $1,560 on equipment. The note payable interest rate is 6%. (The note was taken out on May 1 and will be repaid along with interest in 1 year.) Two-thirds of the unearned rent revenue has been earned. Salaries and wages of $800 are unpaid and unrecorded at May 31. Journalize the adjusting entries on May 31. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation May 31 Debit Credit
Transcribed Image Text:In addition to those accounts listed on the trial balance, the chart of accounts for Oriole's Hotel also contains the following accounts and account numbers: No. 142 Accumulated Depreciation-Buildings, No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense. Other data: (a) 2. 1. 3. 4. 5. 6. 1. Prepaid insurance is a 1-year policy starting May 1, 2022. A count of supplies shows $800 of unused supplies on May 31. Annual depreciation is $3,708 on the buildings and $1,560 on equipment. The note payable interest rate is 6%. (The note was taken out on May 1 and will be repaid along with interest in 1 year.) Two-thirds of the unearned rent revenue has been earned. Salaries and wages of $800 are unpaid and unrecorded at May 31. Journalize the adjusting entries on May 31. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation May 31 Debit Credit
Account Number 101 126 130 140 141 149 200 201 208 301 429 610 726 732 Cash ORIOLE'S HOTEL Trial Balance May 31, 2022 Supplies Prepaid Insurance Land Buildings Equipment Notes Payable Accounts Payable Unearned Rent Revenue Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense Debit $3,600 2,100 1,800 14,000 61,800 15,600 550 3,400 950 Credit $40,000 4,800 3,300 41,100 14,600 $103,800 $103,800
Transcribed Image Text:Account Number 101 126 130 140 141 149 200 201 208 301 429 610 726 732 Cash ORIOLE'S HOTEL Trial Balance May 31, 2022 Supplies Prepaid Insurance Land Buildings Equipment Notes Payable Accounts Payable Unearned Rent Revenue Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense Debit $3,600 2,100 1,800 14,000 61,800 15,600 550 3,400 950 Credit $40,000 4,800 3,300 41,100 14,600 $103,800 $103,800
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